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Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
Global Changes Education Sector
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Global Changes Education Sector

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Impact of global changes on Indian management education

Impact of global changes on Indian management education

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  • 1. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/ GLOBAL CHANGES & SECTORAL CHALLENGES- EDUCATION SECTOR PROF. AMIT GUPTA* *Doctoral Student, National School of Leadership, Pune, India.ABSTRACTThe world is going through unprecedented changes in the last 2 years which is impacting allsectors of industry, agriculture and services in such a way that basic tenets of knowledgeparadigm are being questioned, leading to introspection of the roles of educators in general, andbusiness schools in particular, with ramifications on the sustainability of such systems for theevolution of the future.As defined by Fein, “Education for Sustainable Development has come to be seen as a process oflearning how to make decisions that consider the long-term future of the economy, ecology andsocial well being of all communities”.Just like sustainable development focuses on three aspects – social, economic and environmentalmuch like the “triple bottom line” concept adopted by many enlightened corporates whounderstand importance of sustainable growth through market mechanisms. Thus highereducation should be able to inculcate basic values and beliefs in the youth about social relevance,economic growth and environmental sustainability to carry forward this legacy and get intoproductive sectors of the economy, propelled by the sweeping forces of globalization.It is therefore essential that the education system is re-oriented to shape these beliefs byabsorption of ethics and value systems (the lack of which has resulted in the current economicrecession), thus integrating economic growth with social inclusion and environmentalsustainability.This paper aims to highlight the various ways in which Indian higher education system ( withspecific focus on management education) can be fine tuned to ensure sustainable development in www.zenithresearch.org.indecades to come and discuss opportunities and constraints in this regard to move ahead in itsmarch towards a knowledge society.KEYWORDS: Knowledge paradigm, management education, sustainability, globalization,ethics, value systems, social inclusion, and knowledge society.______________________________________________________________________________ 102
  • 2. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/1.0 INTRODUCTIONBefore discussing the various facets of management education, it would not be out of context tounderstand the various challenges facing the education sector with greater focus on highereducation and by corollary the management education vertical, given the socio-economic fabricof our society and the regulatory structure in which we operate, at the same time takingcognizance of the fact that we are living in a globalized society, mutually interdependent amongthe comity of nations, irrespective of the state of economy in each country.Based on this perspective, what are the goals and objectives of our higher education systemwhich is necessary to be articulated to come up with a well aligned policy structure and approachin line with our national development goals and keeping in mind the demographic needs of ourever increasing population?2.0 GOALS OF HIGHER EDUCATION SYSTEMFew issues are likely to have as crucial an impact on India‟s future as its ability to rapidly andsignificantly improve its human capital. The fundamental underlying question is:WHAT ARE THE GOALS OF INDIAN HIGHER EDUCATION?Is the intention to train people to enter the labor force, or to prepare them to be easily trainableby their employers? If the former, then one might emphasize professional education; if the latter,then an education that develops analytical and critical thinking skills would be more desirable.Should the emphasis be primarily on developing skills, disseminating knowledge or creating newknowledge?Is an important goal the creation of a middle class, or a society with greater social mobility?Is it to mould the minds of young people? If so, to what end? Do we seek to create better citizensor promote a stronger sense of nationhood?While for a multicultural, multiethnic, pluralistic nation like ours it would be difficult to pick onany one of the goals in isolation above, in all likelihood it would be an optimum combination of www.zenithresearch.org.inall the above to achieve the national development goals of access with social inclusion and rapideconomic growth with sustainability and equitable redistribution of the fruits of liberalizationand integration into the global economy.Keeping these goals and context in perspective we discuss the status quo, current challenges, keyissues and approaches in the rest of the paper.Demographic explosion in the young population of the country means that higher educationneeds to keep apace with the growth in the relevant population. As per the 2001Census, 31.2 percent of the country or 337 million were below the age of 15. Providing higher education for thisgroup is imperative and has to be provided on an unprecedented scale to meet the challenges ofthis unique demographic trend. The higher education sector currently faces major challenges of 103
  • 3. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/quality and excellence, and of improving access with inclusiveness. The proportion of ourpopulation, in the relevant age group, that enters the world of higher education is only about 10per cent (2004-05). Access to higher education in terms of the available number of seats inuniversities is simply not adequate in relation to the current demand. There are also largedisparities inEnrolment rates across states, urban and rural areas, sex, caste and poor-non-poor.3.0 CURRENT SCENARIO3.1 INSTITUTIONS: As in 2006, the Indian higher education system consisted of 355universities and 18,064 colleges - there exist 20 Central Universities, 216 StateUniversities, 101 Deemed Universities, 5 Institutions established through State Legislation and13 Institutions of National Importance. www.zenithresearch.org.in3.2 ENROLMENT: Around 110 lakh students were estimated to be currently enrolled in theIndian higher education system in 2005-06. The growth of student enrolment in higher educationin India has been uneven and slow. For instance, while the enrolment grew by 6.7 per cent in2001-2002, in 2005-06 it grew by 5.2 per cent. 104
  • 4. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/3.3 TEACHERS: The total number of teachers in the higher education system is 4.88 lakhs. Outof the total teaching faculty, 84 per cent were employed in affi liated colleges and only 16 percent in the universities and university colleges. The student-teacher ratio works out to 18 in theuniversity departments and colleges and 23 in the affi liated colleges. www.zenithresearch.org.in 105
  • 5. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/4.0 ISSUES IN THE CURRENT FRAMEWORK4.1 EXPANSION: The current enrolment in higher education stands at about 11 million. Whilethere has been a consistent growth in enrolment in higher education over the last few years, thisis not enough when compared to other countries. The gross enrolment ratio (GER) for highereducation currently is around 10 per cent.Whereas it is 25 per cent for many other developing countries. Even South-east Asian countriesshow much higher enrolment: Philippines (31 per cent), Thailand (19 per cent), Malaysia (27 percent) and China (13 per cent). The enrolment figure for the USA is 81 per cent, 54 per cent in theUK and 49 per cent in Japan. Various committees that have examined the higher educationscenario in India have recommended an increase in the GER to at least 20 per cent. For instance,the CABE Committee on Financing of Higher Education concluded on the basis of internationalexperience that an enrolment rate of 20 per cent or more is consistent with a turnaround ineconomic performance. If India has to achieve the target soon, it would imply more thandoubling the scale and size of the higher education system within the next 5 to 7 years. www.zenithresearch.org.in4.2 ACCESS: With high disparities, inclusive education has remained an elusive target. Inter-caste, male-female and regional disparities in enrolment still remain prominent.For example, while the gross enrolment ratio for people living in urban areas was almost 20 percent, it was only 6 per cent for rural areas. Further, the gross enrolment ratio for ScheduledTribes (STs), Scheduled Castes (SCs) and Other Backward Classes (OBCs) was 6.57, 6.52 and8.77 respectively, much lower than the all-India figure of 11. 106
  • 6. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/4.3 REGULATIONS: The regulatory structures in the current higher education system arecumbersome. Entry through legislation alone, at present, is a formidable barrier. Itrequires an Act of Legislature of Parliament to set up a university. The deemed university routeis much too difficult for new institutions. The consequence is a steady increase in the averagesize of existing universities with a steady deterioration in their quality. The absence ofcompetition only compounds problems. A vast majority of the colleges are not recognized byUGC under section 2(f ) of UGC Act. This poses a great challenge for the UGC in respect ofmaintenance of standard of teaching and examination in higher education. Also the currentsystem of affiliated colleges for undergraduate colleges is not adequate. These are affiliated tolarge unwieldy universities, making it difficult to monitor the standard of education beingimparted. Currently about 90 per cent of the undergraduate enrolment and 67 per cent of thepostgraduate enrolment is in the affiliated colleges. There are a large number of institutions thatare technically under the purview of the UGC but are not provided financial support by itbecause they fail to fulfill the minimum eligibility norms. www.zenithresearch.org.in4.4 FACULTY: Shortage of quality faculty is one of the main problems afflicting highereducation in India today. Teacher shortages often occur due to non availability of suitablyqualified people. Further, the academic profession has seen a steady decline in popularity –possibly as a result of lack of incentives here and more lucrative opportunities in otherprofessions. Apart from increasing compensation of teachers, there is also a need to introduceperformance-based incentives in order to ensure teaching of superior quality. 107
  • 7. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/4.5 FUNDING: Public expenditure (Centre and States) on education is only around 3.6 per centof GDP. Government funding of higher education is still below 1 per cent of GDP. Thepercentage expenditure on University and Higher Education to GDP, which was 0.77 per cent in1990-91 showed a gradual decrease to 0.66 per cent in 2004-2005. Various committees haveunanimously recommended that state funding be increased to 6 per cent. While the CentralAdvisory Board for Education (CABE) recommends spending 1 per cent to higher education and0.5 per cent to technical education, the proportions in 2004-05 were 0.34 per cent for highereducation and 0.03 per cent for technical education.India also has one of the lowest public expenditure on higher education per student at 406 USDollars, which compares unfavorably with Malaysia (11,790 dollars), China (2728 dollars),Brazil (3986 dollars), Indonesia (666 dollars) and the Philippines (625 dollars). In nominal termsthe public expenditure per student in higher education stood at Rs.12518 respectively in 2003-04.The trend analysis shows that the increase is not that marked if we consider the growth inenrolment, with the nominal public expenditure per student in higher education going up by only40 per cent from 1993-94 to 2003-04. In fact, in real terms, public expenditure per student inhigher education has declined from Rs. 8961 in 1993-94 to Rs. 7117 in 2003-04. www.zenithresearch.org.in 108
  • 8. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/4.6 PRIVATE INSTITUTUONS: The share of private unaided higher education institutionsincreased from 42.6 percent in 2001 to 63.21 per cent in 2006. Their share of enrolments alsoincreased from 32.89 per cent to 51.53 per cent in the same period. This trend is likely tocontinue and therefore, it is reasonable to expect that about half of incremental enrolmenttargeted for higher education will come from private providers.There is a need for the state to recognize the role of the private sector and encourage theirparticipation. There has already been a de-facto privatization of the professional educationsector, with more than 80 percent of the engineering colleges being privately funded andmanaged. While there are strict entry barriers for the private sector, there is not enoughregulation on the products and outputs of the private sector. www.zenithresearch.org.in 109
  • 9. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/4.7 ACCREDITATION: Accreditation in higher education pertains to determining the qualityof an institution. The criteria on which institutions are judged typically involve expected studentachievement, quality of curriculum, faculty, academic support and services for students, andfinancial capacity. In India accreditation (unlike in other countries such as the USA and the UK)is performed by government agencies. The National Assessment and Accreditation Council(NAAC) was set up by the UGC in 1994 to accredit institutions of higher education. TheNAAC‟s assessment is based on pre-determined criteria that combine self-study and peer review.NAAC accredits and certifies for educational quality in institutions based on seven criteria withdifferent weights for each criterion, and for different types of institutions. NAAC has so farcompleted accreditation of only 140 out of the 355 universities and 3,492 out of the 18,064colleges. This covered just over 10 per cent of all institutions, and barely any private collegesand universities. The results of the accreditation process thus far indicate serious qualityproblems. Only 9 per cent of the colleges and 31 per cent of the universities are rated as „A‟grade and the rest fall in „B‟ and „C‟ categories. Accreditation by NAAC is voluntary and validfor five years. However, very few institutions have applied for accreditation by NAAC.4.8 QUALITY: There are concerns about the quality of higher education provided in Indiacurrently. There is an annual outflow of more than 1,50,000 students to Institutes in the westevery year – driving out nearly 2-3 billion dollars in foreign exchange per annum. It makes Indiathe second-largest target market globally for education institutes in the west. Though the problemof reaching world class standards is not as pressing as meeting the larger needs of the population,India‟s standing in this regard is indicative perhaps of the generally low standards. In a LondonTimes Higher Education Supplement ranking of the top 200 universities, only 1 Indian institutionwas listed, while the Shanghai University ranking of 500 world-class universities featured only 3Indian universities. www.zenithresearch.org.in 110
  • 10. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/5.0 IDEA OF UNIVERSITYA university is a place where new ideas germinate, strike roots and grow tall and sturdy. It is aunique space, which covers the entire universe of knowledge. It is a place where creative mindsconverge, interact with each other and construct visions of new realities. Established notions oftruth are challenged in the pursuit of knowledge.To be able to do all this, universities have to be autonomous spaces. They are diverse in theirdesign and organization, reflecting the unique historical and socio-cultural settings in which theyhave grown. This diversity reflects the organic links that they have with their surroundings,which are not only physical but cultural as well. Through research and teaching, they create,evaluate and bring about advances in knowledge and culture. The principle of moral andintellectual autonomy from political authority and economic power is ingrained in the very ideaof the university. This autonomy ensures freedom in research and training and it is expected thatthe governments and the society would respect this fundamental principle. Teaching and researchhave to be inseparable, because the task of the university is not only to impart knowledge toyoung people but also to give them opportunities to create their own knowledge. Active andconstant engagement with the young minds and hearts of the society also implies that theuniversities are to serve the society as a whole, and in order to achieve this, considerableinvestment in continuing education is essential. The slow but increasing democratization ofhigher education in India has meant that the university is no longer the preserve of the childrenof the elite, or of the educated/professional middle-class. As more youngsters from a differentsegment of society enter the universities, they look at higher education as a means to transcendthe class barriers. Consequently, university education is no longer viewed as a good in itself, butalso as the stepping-stone into a higher orbit of the job market, where the student expects aconcrete monetary return, and consequently in this perception, the university of today is expectedto be in tune with the emerging needs of the society. Even so, graduates should be sufficientlyexposed to interdisciplinary experiences, which can sustain them when the demands of aparticular job market changes. The university has also been regarded as the trustee of thehumanist traditions of the world and it constantly endeavors to fulfill its mission by attaininguniversal knowledge, which can be done only by transcending geographical, cultural andpolitical boundaries. By doing so, it affirms the need for all cultures to know each other andkeeps alive the possibilities of dialogue among them. It is also important to remember that theuniversity aims to develop a scholarly and scientific outlook. This outlook involves the ability to www.zenithresearch.org.inset aside special interests for the sake of impartial analysis. Standing for more than specificfactual knowledge, a scientific outlook calls for an analytical and questioning attitude and thecontinuous exercise of reason. All this requires us to go beyond specialized knowledge andcompetence. This universal approach to knowledge demands that boundaries of disciplines beporous and scholars be constantly on guard against the tendency towards „cubicalization‟ ofknowledge. Apart from resisting fragmentation of knowledge, the idea of a university should atthe same time aspire to encompass the world of work in all its forms. Work constitutes thehuman sphere where knowledge and skills are born, and where new knowledge takes shape inresponse to social and personal needs. Indeed, the experience and culture of work represents thatcore space where the humanities and the sciences meet. The founders of the Indian Republic,with these essential features of a University at the back of their minds, realized even during thefreedom struggle that the future of Indian democracy depended largely on the ability of the 111
  • 11. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/society to create new knowledge. The enrichment and development of cultural, scientific andtechnical resources was to be done in centres of culture, knowledge and research, as representedby true universities. These expectations were to be fulfilled in a social context characterized by asharp division between the rural and the urban, the elite and the masses, and between men andwomen. Since a university is based on the fundamental principle of transcendence and meetingof minds from diverse backgrounds, higher education was increasingly perceived as a means toovercome caste and class hierarchy, patriarchy and other cultural prejudices and also a source ofnew knowledge and skills, a space for creativity and innovations. Higher education, therefore,was and continues to be considered a national responsibility and the state has to make necessaryprovisions to realize its potentials.For higher education to thrive, there are five key areas of the knowledge paradigm – access toknowledge, knowledge concepts, knowledge creation, knowledge application and developmentof better knowledge services.5.1 ACCESS TO KNOWLEDGE: Providing access to knowledge is the most fundamental wayof increasing the opportunities and reach of individuals and groups. Therefore, means must existfor individuals who have the ability to receive and comprehend knowledge to readily obtain it.This also includes making accurate knowledge of the state and its activities available to the www.zenithresearch.org.ingeneral public. Certain issues concerning this are:1. Right to Education2. Language3. Translation4. Libraries5. Networks 112
  • 12. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/5.2 KNOWLEDGE CONCEPTS: Knowledge concepts are organized, distributed andtransmitted through the education system. It is through education that an individual can makebetter informed decisions, keep abreast of important issues and trends around him or her andmost importantly, question the socio-economic arrangements in a manner that can lead to changeand development. This can cover many aspects of the Indian education system: 1. School Education 2. Vocational Education 3. Higher Education 4. Medical Education 5. Legal Education 6. Management Education 7. Engineering Education 8. Open and Distance Education 9. Open Educational Resources 10. More Quality Ph.Ds5.3 CREATION OF KNOWLEDGE: A nation can develop in two ways – either it learns touse existing resources better, or it discovers new resources. Both activities involve creation ofknowledge. This makes it important to consider all activities that lead to the creation ofknowledge directly or help in protecting the knowledge that is created. India must thereforeexamine issues such as : 1. Science and Technology 2. Legal Framework for Public Funded Research 3. Intellectual Property Rights (IPRs) www.zenithresearch.org.in 4. Innovation 5. Entrepreneurship5.4 KNOWLEDGE APPLICATIONS: Knowledge can be productively applied to promotetechnological change and facilitate reliable and regular flow of information. This requiressignificant investment in goal-oriented research and development along with access models thatcan simplify market transactions and other processes within an industry. Initiatives in the areasof agriculture, small and medium enterprises (SMEs) and traditional knowledge can demonstratethat knowledge can be very effectively applied for the betterment of the rural poor. 113
  • 13. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/ 1. Traditional Knowledge 2. Agriculture 3. Enhancing Quality of Life5.5 DELIVERY OF SERVICES: Knowledge services have the potential to simplify manydifferent points at which citizens interact with the State. Traditionally, these points of interactionhave been vulnerable to unscrupulous activities and rent-seeking. Technology provides us withan opportunity to ensure accountability, transparency and efficiency in government services. E-governance is one of the ways in which citizens can be empowered to increase transparency ofgovernment functioning, leading to greater efficiency and productivity.6.0 CHALLENGES OF HIGHER EDUCATIONHigher education in India refers to education beyond school (class 12). The medium term macroobjective with regard to higher education would be to increase the gross enrolment ratio to atleast 15% by 2015. This would imply more than doubling the scale of higher education withinthe next few years. Further the system needs to be expanded without diluting quality and in factby raising the standard of education imparted and making higher education more relevant to theneeds and opportunities of a knowledge society. There is also a widespread recognition of theneed to make higher education more accessible to all sections of society.There is a need for excellence in the system, expansion of the higher education sector in thecountry, and providing access to higher education for larger numbers of students.Some of the issues that have been highlighted by the National Knowledge Commission are: Systemic issues like quantity and quality of higher education Regulatory framework Access to higher education Financing of higher education www.zenithresearch.org.in Institutional architecture of universities Governance and administration Content in terms of curriculum and examinations Faculty and Research identify constraints, problems and challenges relating to curriculum, teaching, infrastructure, administration and access and to suggest means of raising standards and promoting excellence in undergraduate education. 114
  • 14. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/Colleges, affiliated and constituent, form the backbone of the undergraduate education system inIndia. At present, there are approximately 17,625 colleges and 348 universities with anenrolment of roughly 10.48 lac students in affiliated colleges and universities (Source:University Grants Commission).Approximately, 8% of the relevant age group is enrolled in higher education, which is very lowas compared to other developing and developed countries. If we have to move towards aknowledge economy and society, we need to revisit the prevailing model of undergraduatecolleges in terms of quantity as well as quality. It is widely recognized that colleges in differentparts of the country are of varying standards with indeed a few which can compete with the best,internationally. However, with honesty one should also accept that the vast majority only servethe needs of “academic squatters.”The identity of colleges as a distinct space has been lost sight of. Their purpose of initiatingstudents into life long learning and skill building has been sidelined to give primacy to churningout degrees. Most undergraduate colleges suffer from a paralysis of inaction – stifled byexcessive regulations and outmoded procedures, lack of resources and lack of incentives tochange. They continue to merely exist. India faces today two exciting challenges in HigherEducation: to increase the access to higher education and to provide educational institutions ofacademic excellence. It may seem that these are contradictory challenges and that we can onlyaddress one of them at a time. However, the Working Group feels that neither challenge can besacrificed for the other. They need simultaneous attention and given our resources andpossibilities, both can be addressed effectively. Government funding of education and, inparticular higher education, needs to increase. However, private and corporate funding foreducation cannot be avoided given the immense task ahead.The challenge is to examine alternative models which could work towards academic excellence,without creating only islands of excellence. The challenge is to examine diversity rather thanuniformity. The challenge is to increase access to higher education to meet the needs of schoolleavers, without compromising on standards. The challenge also is to look for parallel systemswhich can equip students with learning skills as well as equip them with the means of earning alivelihood.7. 0 NEEDS OF THE FUTUREAlthough India produces a large number of management graduates, perhaps next only to the www.zenithresearch.org.inU.S., scholarly debate on curriculum, pedagogy, and innovation is negligible. There are, asalready noted, many reports prepared on behalf of, or addressed to, the Government or theregulatory authorities but little generated by or addressed to the Professional community, whichhas to deliver the results. Action by government or regulatory authorities on the various reports isslow and sometimes inconsistent. Most institutions depend on curricula and materials developedelsewhere and have not developed an intrinsic capacity to respond and evolve to the changingneeds of various sectors of industry and services, student interests, Non-GovernmentOrganizations, or the economy and society. Many are unable to fulfill the mandatory Changesimposed on them, such as upgrading of the curriculum by the Universities or the Board ofManagement Studies. 115
  • 15. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/There is need for greater autonomy for management education entities as well as a betterregulatory regime. The market has to be enabled to consistently discriminate differentprogrammes/institutions based on their capacity to provide education of value. In a wellfunctioning system, more and better resources have to flow to those Institutions that have acapacity to consistently deliver better value and respond well to professional influence. Therewould be in such a system serious and continuing debate among management scholars andeducationists on the goals, objectives and content of management education as the context andneeds keep changing. Capacity growth would be guided by systematic forecast of the educationalneeds of the Economy/various sectors. Those institutions that have a higher level of commitmentand depth of resources should be the ones that grow and respond to needs.There are few systematic attempts at forecasting the demand for managerial manpower in India.There is general consensus among industry that the needs are increasing at an accelerating speed.Also, the emphasis is increasingly on quality, both at entry and middle levels. Managementinstitutions in India are today estimated to be graduating approximately 400,000+ studentsannually. HR managers in various industries, especially in the “sunrise” industries, foresee amanifold increase in their requirements. However, what proportion of the total requirement willbe for the increasingly more expensive post graduates in management and what proportionwould be for the less-expensive lower levels of managers is not clear. In the Group‟s judgment,quite a large percentage of the huge additional requirement could be met more speedily andsatisfactorily by adapting the Bachelors programmes in Management so as to focus onspecialization and practice. The retailing sector, which is expected to hire large numbers infuture, has already initiated through several institutions long-duration educational programmesand short-term sector-specific training of experienced managers. It is important to ensure that thestudents do acquire enduring knowledge, skills and aptitudes that are well recognized, as in arecognized professional degree, and upon which they can build later, if desired. Notwithstandingthe above, there is no doubt there will be a steep increase in the demand for postgraduates inmanagement. Based on the assessments of HR managers, as a best estimate, the Group foreseesthe need for a three-fold increase over the next 10-15 years. Thus, there will be a need to raisethe output from the current level of 100,000 managers (employable) to about 300,000 a year overthe next 10-15 years. For these, specialized management training/development programmeswould be needed. The number of business schools has trebled in the last ten years, with many ofindifferent quality. The market has already started discriminating the quality of institutions andgraduates. This is expected to intensify in future. A good information system on all the schools www.zenithresearch.org.incan sharpen the working of this market process, which is currently based on incomplete, andsometimes inaccurate, data and exaggerated claims of various educational organizations. Animproved working of the market processes would have its consequences for those institutions notgearing up to meet minimum quality standards and expectations of the stakeholders. It is in thiscontext that there is the need to put in place an appropriate promotional and mentoring agency,and a regulatory architecture and supportive infrastructure. 116
  • 16. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/8.0 MANAGEMENT EDUCATION IN THE WIDER CONTEXT OF SOCIETYIn the 1950s, when India sought to give an impetus to its management education with assistancefrom abroad, particularly the United States, rationality or positivism was at its peak in the West.Knowledge in each field was considered separate with its own reasoning and technology.Science and technology was separated from history, sociology, or philosophy. Observation andfact was the guiding source for knowledge, a position that encouraged a compartmental view ofmanagement education. Further, the establishment of management institutes in India outside theUniversity system distanced management education from other fields. Management did drawfrom a number of other fields, including science, technology, psychology or sociology. But sinceits own knowledge, methodology and objectives in society were different, managementeducation did not have to go deep into the bases of the other fields or the wider context of societyitself.Since those days, however, scientific reasoning has come full circle in the West. There isincreasing realization that subjective dimensions of the observer are inextricably embedded inobservations and facts. There exists today an environment for accepting the validity of multipleapproaches and societal assumptions, a notion celebrated in Indian philosophy and society.With the impact of management on society greatly increased over the last several decades,management educationists in the West are debating on how to root management education moresolidly in the basic fields it draws upon such as sociology, psychology or mathematics. Withglobalization, the need for management education to pursue greater scope and aim at a morewholesome impact on society has increased.Such thinking is particularly relevant to India, with its diverse socio-cultural contexts anddisparities in different occupations. Management education, while strengthening its roots invarious fields, should also understand and reflect on India‟s diversity and preserve the age-oldVedantic wisdom that holds our society. The strengthening of the Universities and their pursuitof knowledge relevant to the understanding of behaviour and values in society is extremelyimportant. Management Departments in Universities, even while being independent andautonomous, should draw deeply from the knowledge sources in other departments and doresearch.A majority of management education organizations in India is oriented primarily to teaching.The materials used for teaching are also not of relevance to the student background or living www.zenithresearch.org.inexperiences in India. The focus on campus interviews, careers and jobs further detracts studentsfrom gaining a disciplinary understanding of the specializations and society in which they haveto innovate and be influential leaders. There is need to increase research support not only inmanagement but also in the many of its supporting disciplines. 117
  • 17. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/9.0 CONCLUSIONSNeed to move beyond conventional boundaries of thinking:1. BEYOND BUSINESS: BUSINESS +SOCIETY Uncertainty is inevitable; worrying is optional Need to develop competencies- - ability to anticipate - dealing with ambiguity - adaptability to changing market conditions2. BEYOND SUCCESS: SUCCESS + SIGNIFICANCE Passion + Purpose = Performance3. BEYOND U.S CENTRIC CURRICULUM: DEVELOPED + EMERGING MARKETS4. STAKEHOLDERS: KEY ISSUES - Students (including potential students): “Earning v/s Learning” - Faculty: “research v/s teaching”- excellent in one/ good in other: -Alumni: “Engagement v/s Involvement” -Corporate Partners: “Rigour v/s relevance” -Media: “Ranking v/s Reputation”Therefore the key challenges that need to be addressed are: a. Increasing competition www.zenithresearch.org.in b. Alumni involvement and engagement c. Building a culture of philanthropy among individuals and society d. Faculty attraction, development & retention e. Managing student expectations f. Building corporate partnerships g. Academic governance 118
  • 18. ZENITH International Journal of Business Economics & Management ResearchVol.2 Issue 4, April 2012, ISSN 2249 8826Online available at http://zenithresearch.org.in/ h. Geopolitical and economic environment i. Media Relations j. Collaboration / multi stakeholder partnerships.10.0 REFERENCES1 .Reports of Ministry of HRD,Govt of India2. National Knowledge Commission Report to the Nation3. Yashpal Committee report on Higher Education4. World Economic Forum: Global Education Initiative Reports5. UN Millenium Development Goals6. UGC/ AICTE/ MCI/ ACI websites7. Journal of Management Research www.zenithresearch.org.in 119

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